1724 Menlo Ave - Apartments FOR SALE


Los Angeles, CA 90006- Harvard Heights
$2,995,000 USD
310-666-2246
1724 Menlo Ave, Los Angeles, CA for Sale
$2,995,000 USD
Apartments - FOR SALE
1/50
null | 6.2% Cap Rate

1724 Menlo Ave
Los Angeles, CA 90006
Harvard Heights


HIGHLIGHTS

  • This is an exciting investment opportunity with a fantastic 6.24% Cap rate and a 13 GRM!
  • Located in a super convenient spot, just north of USC University Village, near Koreatown, and west of Downtown LA!
  • Ideal for co-living arrangements, student accommodations, and larger families.
  • Extra for a possible sixth unit (Junior ADU)

OVERVIEW

Introducing an exceptional investment opportunity in the heart of Los Angeles: five brand-new units, constructed in 2023, are now available for purchase directly from the developer. This strategically positioned property offers a reliable income stream, boasting an impressive 6.24% cap rate with the potential for additional ADU (Accessory Dwelling Unit) conversions. Each unit features modern, stylish finishes that ensure a luxurious living experience. All units are individually metered for gas, water, and electricity, providing a low-maintenance and efficient environment. Covering a thoughtfully designed 7,700 square feet, this remarkable offering includes two four-bedroom units, two three-bedroom units, and one-bedroom ADU, all nestled in the vibrant Pico-Union area. The floor plans are meticulously crafted, with en-suite bathrooms in every bedroom and ample parking for renters. This is an excellent opportunity for 1031 exchange buyers or any investor seeking steady and passive cash flow in a thriving market. Conveniently located just west of Downtown Los Angeles, north of USC Village, and east of Koreatown, this property places you right in the city's vibrant core, making it an ideal investment choice.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

5

PRICE/UNIT

$599,000

CAP RATE

6.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5 Units in LA| 6.24% Cap| Motivated Developer

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

LARD1.5

APN/PARCEL ID

5056-021-016

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.